Ethereum

Bancor

Bitcoin

<div class="coinjournal">
 <ul>
  <li dir="ltr">Bancor (BNT) price rose more than 70% to $0.69, the coin’s highest level in two months.&nbsp;</li>
  <li dir="ltr">BNT price surged as whale activity and network growth drove buyside pressure.</li>
  <li dir="ltr">Geopolitical events in the Middle East have dampened markets, but analysts say Bancor could surge to new multi-month highs.</li>
 </ul>
 <p dir="ltr"><a rel="noopener noreferrer nofollow" title="Bancor" href="https://thebittimes.com/tag/bancor.html">Bancor</a> recorded a significant bump in price over the weekend, rising to a two<a rel="noopener noreferrer nofollow" title="-month" href="https://thebittimes.com/tag/month.html">-month</a> high of $0.69 as BNT buyside pressure saw it outpace Bitcoin and top altcoins. The coin’s upside of 71% for the 24 hours to Monday morning came even as the fresh geopolitical events appeared to dent sentiment battered by inflation and interest rates concerns.</p>
 <h2 dir="ltr" id="bancor-price-surges-as-markets-weigh-israel-hamas-conflict">Bancor price surges as markets weigh Israel-Hamas conflict</h2>
 <p dir="ltr">Ahead of markets opening on Monday, US stocks were down and Bitcoin, Ethereum and most altcoins were trading lower. Investor jitters come as analysts point to the potential impact of a full-scale war in the Middle East following Israel’s retaliation to a surprise attack by Hamas.</p>
 <p dir="ltr">While the Saturday attack saw a swift spike in oil prices, speculation over what happens next in the volatile region meant a slowdown for risk assets.</p>
 <p dir="ltr">However, the impending escalation aside, the Bancor price broke out as network growth and whale activity skyrocketed. Other than a massive haul of BNT by a wallet linked to Korea’s largest crypto exchange Upbit, on-chain data also showed the most active addresses have been busy over the past two days.</p>
 <p dir="ltr">According to data by Santiment, <a rel="noopener noreferrer nofollow" title="Bancor" href="https://thebittimes.com/tag/bancor.html">Bancor</a>’s price peaked with a +71% gain in 24 hours to reach $0.67 – the cryptocurrency’s highest price level in two months. The BNT/USD pair changed hands at highs of $0.69 on crypto exchange Coinbase.</p>
 <p dir="ltr"></p>
 <blockquote class="twitter-tweet" data-width="500" data-dnt="true">
  <p lang="en" dir="ltr">📈 #<a rel="noopener noreferrer nofollow" title="Bancor" href="https://thebittimes.com/tag/bancor.html">Bancor</a>'s price had a peak gain of +71% in 24 hours as the weekend closed. Coinciding with this, the 797 active $BNT addresses are the most in a single day in nearly 2 years. If #onchain metrics continue this rate, a further increase may be in store. https://t.co/x3opEjOnJX pic.twitter.com/9xecovtFgF</p>
  <p>— Santiment (@santimentfeed) October 9, 2023</p>
 </blockquote>
 <p></p>
 <h2 dir="ltr" id="what-next-for-bnt-price">What next for BNT price?</h2>
 <p dir="ltr">As analysts at Santiment pointed out in post on X, the price increase coincided with a spike in active BNT addresses. Specifically Bancor’s 797 active addresses saw their most active single-day surge in almost 2 years.</p>
 <p dir="ltr">“<em>If on-chain metrics continue [at] this rate, a further increase may be in store</em>,” the analytics firm noted.</p>
 <p dir="ltr">In this case, bulls can target the supply zone at $0.77 and multi<a rel="noopener noreferrer nofollow" title="-month" href="https://thebittimes.com/tag/month.html">-month</a> highs going back to mid-June. This could possibly open up a path to $1.18. On the downside, the key price level to watch is $0.50, below which <a rel="noopener noreferrer nofollow" title="Bancor" href="https://thebittimes.com/tag/bancor.html">Bancor</a> look for a demand reload at $0.34.</p>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/bancor-bnt-hits-2-month-high-amid-spike-in-whale-activity-tbt65638.html">https://thebittimes.com/bancor-bnt-hits-2-month-high-amid-spike-in-whale-activity-tbt65638.html</a></p>

Bancor (BNT) hits 2-month high amid spike in whale activity

Table of Contents

TheBitTimes

Other articles published on Oct 9, 2023

Ripple Labs Chief Financial Officer Kristina Campbell Resigns

Bitcoin Exchange Binance Announces New Feature for Futures Trading! Here are the Details…

Shiba Inu Association Details Plans for Purpose-Built SHIB Blockchain

Binance CEO Changpeng Zhao Share Insights on Bitcoin Halving and Impact on BTC Price

Low Volumes in Crypto Markets and Reasons Behind the Stagnation

Account Claiming to Be Satoshi Shares When He Will Reveal His Identity in a Mysterious Message

Join our free newsletter for daily crypto updates!